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Hong Leong financial group's loans growth to pick up

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Hong Leong financial group's loans growth to pick up Empty Hong Leong financial group's loans growth to pick up

Post by Cals Wed 27 Nov 2013, 12:36

Hong Leong financial group's loans growth to pick up
Business & Markets 2013
Written by Bernama   
Wednesday, 27 November 2013 11:54
KUALA LUMPUR (Nov 27): HwangDBS Vickers Research expects Hong Leong Financial Group's loans growth to pick up after a slow start in the first quarter of financial year 2014.
"The key growth drivers are auto loans, mortgage, and medium enterprises/commercial segments," it said in a research note today.
In the quarter under review, Hong Leong Financial Group recorded weak loans growth of 1.1 per cent quarter-on-quarter, and 7.1 per cent year-on-year with loan-to-deposit ratio flat at 77 per cent.
The research house said it also expects expenses to pick up as the group continues to open new branches and rationalise its network.
HwangDBS Vickers Research has maintained a "buy" call on it and kept the target price at RM18.80.
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